The currency pair Euro Dollar EUR/USD continues to move within the limits of the decline. At the moment, quotes are testing the upper limit of the «Wedge» model, we should expect the euro to fall further below the level of 1.1670. Whence again we should expect a rebound and the growth of the euro above the level of 1.1850 within the framework of working out the Forex model «Wedge».
EUR/USD prediction & technical analysis on October 10, 2017
In favor of falling quotes EUR/USD is the test of the downward trend line on the indicator of relative strength index (RSI). Canceling the option of lowering the quotes of the euro dollar for Forex will be a strong growth and breakdown at the level of 1.1770, indicating that the pair continues to grow above the level of 1.19.
Important news from Europe and America, which can influence the rate of the EUR/USD pair, is not expected, so the pair will continue to move in the technical analysis.
EUR/USD prediction & technical analysis on October 10, 2017 suggests an attempt to continue falling to the area below the level of 1.1670, from which it is expected to rebound and the pair rise above 1.19 within the «Wedge» model, the abolition of the EUR/USD pair growth option will be a breakdown at level 1.16.